- BTC’s daily price is between 50 and 200 EMA.
- In the 4-hourly time frame, price fluctuates in an asymmetrical triangle.
- BTC prices close the week bearish, for two weeks. This is because the price becomes stuck between bears and bulls.
As Bitcoin prices continued to fall against USDT (tether), this has been more of a problem than a positive sign. September wasn’t a good month for the price of Bitcoin (BTC) as the market continued to stall in its movement to the upside. Market sentiments have been negatively affected by the Federal Open Market Committee and the Consumer Price Index (CPI) coupled. However, October promises to be a brighter month. (Data from Binance).
Bitcoin (BTC), Weekly Chart Price Analysis
BTC’s price has been stuck at a high level for weeks. This is despite the fact that there is no chart pattern to indicate if it will move to the upside.
The price of Bitcoin fell from $25,000, with its weekly high rejected. However, it has been on an upward trend with much excitement not breaking the weekly low at $18,100.
BTC prices are still at $18,000. That is the support that holds the key for either recovery or decline in low-priced regions.
BTC prices could rise to $20,000 if the $19,300 price is breached. The area of resistance has been a major support for the BTC price. We could see a rebound to $20,000 with the Bulls protecting this important yearly support area. This support zone is becoming heavy and may be broken should there be negative news.
The price of Bitcoin must break the $19,000.00 resistance to prevent it from rising. The price could drop if BTC prices continue to decline below $19 300.
Weekly resistance for the price of BTC – $19,300.
Weekly support for the price of BTC – $18,100.
BTC Prices on The Four-Hourly (four hours) Chart
BTC’s price has been fluctuating in the 4-H period. It could be indicating a bounce at a low level.
BTC prices trade at $18,900 under the 200 and 50 Exponential Moving Averages (EMA), which act as resistance. BTC price resistance is at $50,200 and $19300. BTC’s price must reclaim 50 EMA to be in a position to trend toward $20,000.
Daily resistance for the BTC price – $20,000.
Daily support for the BTC price – $18,700.
Onchain Analysis Of INJ
Many investors hold BTC in hope of seeing a big bounce on the crypto market. However, BTC’s price has experienced a more negative return-on-investment (ROI), with a 5.1% drop over the last 30 days.
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